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1649 W Loma Lane Phoenix, AZ 85021

4 Beds 2 Baths 1,862 sqft Built 1968

$485,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $260.47
  • 4 Days on Market
  • MLS # : 6185140
  • Updated Date : 02/06/2021 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,862 sqft
  • Baths : 1 full , 1 half
Listing Agent

Arizona Homestar Realty

Listing Agent's Description

Check out this Renovated home in the heart of Central Phx, in the Royal Palm SPD! Owner spared no expense updating this home! Full Remodeled in 2019-2020. Kitchen includes new Cabinets, Quartz Counters, Coffee Bar, Center Island, Custom Backsplash, Garden Style single basin sink, & New Appliances including GE Wine Fridge & GE/Cafe pro gas range w/griddle & smart double oven. Both baths renovated including subway shower tile, vanities, sinks, & counters. Wood Plank flooring T/O all common areas. New Carpet in bedrooms. Energy efficient Dual Pane windows in 2020. Pool over-haul in 2020 (resurface, new pump, pool vac, & autofill). New Landscape front & back including new Sprinkler/Drip system. New Exterior Paint with stack stone trim. More...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Royal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k326k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Royal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621679

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Richard E. Miller Elementary School Primary Regular 569 26 4
Sunnyslope High School High Regular 2,064 88 6

Richard E. Miller Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 26
4
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,685
Property Tax -$289
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$306

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,103

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,830

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8003$1,8304$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1649 W Loma Lane Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.98
    •  
  • 1814 W Vista Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 8622 N 18th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1970
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 8121 N 16th Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 1969
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 1566 W Lawrence Lane Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 1959
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mark Shipley
Arizona Homestar Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185140
Last Updated: 02/06/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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